Closed Loop Medicine raises £800,000 seed funding from Longwall Capital and Cambridge Angels
Business moves from start-up to seed with strategic investment from a leading life science investor.
Cambridge, 5th April 2018: Closed Loop Medicine (CLM), the Cambridge-based health tech startup that helps doctors and healthcare providers to deliver personalised treatment regimens, has now raised £800,000. The total funds include £500,000 in venture capital funding, raised from Longwall Ventures, Cambridge Angels and Martlet, the investment arm of the Marshall of Cambridge group.
CLM secured initial pre-seed funding from the Cambridge Angel network, supported and backed by some of the U.K.’s most successful life science and technology entrepreneurs. This new investment from Longwall Capital, combined with follow-on investment from Cambridge Angels, underpins the companies next stage of growth.
CLM is a new breed of therapeutics company focused on care pathways, outcomes and the provision of dynamic personalised regimens. The company combines proven drugs with digital therapeutics enabling the digitisation and data capture of an entire care continuum. Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease. They are used independently or in concert with medications, devices, or other therapies to optimize patient care and health outcomes. This tranche of funding will enable the company to progress its lead product with its strategic partner Orient Pharma, as well as continue to build CLM’s platform technology.
Dr Rebecca Todd of Longwall Ventures said: ‘Longwall is always looking for the next generation of life science and technology entrepreneurs with a vision for how to break the rules and deliver new concepts that will disrupt the sector in order to improve patient lives. Our investment and commitment to CLM is based on the belief that this team can bring the right ingredients together to develop the next generation of drug and digital co-therapies and change how we do medicine in the 21st century ’.
Dr Andy Richards, chairman of CLM, said: “Closed Loop Medicine is an ambitious venture with a novel business model combining drug and digital therapeutics. Longwall Venture Partners has been incredibly supportive of the vision and helpful in honing the strategy and plan.”
“The company is bringing together distinct elements of the healthcare and life sciences ecosystem and requires a strategic and visionary investor to enable it to deliver on its vision.”
About Closed Loop Medicine
Closed Loop Medicine is a Cambridge-based therapeutics company focused on care pathways, outcomes and the provision of dynamic personalised regimens. CLM has a development pipeline that integrates Drug + Digital+ Device for the treatment of some of the biggest challenges facing global health systems. For now, CLM is working on treating sleep disorders and hypertension but in the future will be working on other health problems.
By focusing on individual care pathways, CLM can augment proven drugs with digital therapeutics enabling the digitisation and data capture of an entire care continuum for dynamic personalised regimens. Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease.
The founders of CLM have a track record of working together and between them have launched many highly successful commercial enterprises including drugs, digital health, diagnostics and devices. The team has full experience of technology development through to market access, reimbursement and uptake.
CLM was founded in 2017. Its HQ is in London, UK.
About Longwall Ventures
Longwall Venture Partners LLP is a venture capital firm investing in innovative, UK based, early stage companies in the healthcare, science and engineering sectors. Based on the Harwell Campus, a leading science and technology park, located just south of Oxford, Longwall manages three funds: the £30m Oxford Technology ECF, the £40m Longwall Ventures ECF and the £75m Longwall Ventures 3 ECF, which it is currently investing. The Longwall portfolio comprises companies in a range of sectors including scientific instrumentation, next generation sequencing, next generation PV, cancer diagnostics and drug delivery systems, digital health, satellite robotics, IoT security, radar, oil drilling tools and organ perfusion. Longwall Venture Partners LLP is authorised and regulated by the Financial Conduct Authority.